Our Group People Strategy

Since 2020, we have been implementing our people solutions along our Group People Strategy to build a sustainable workforce. Our clients and partners are at the heart of our People Strategy. We achieve our common goals through our human capital, or simply put: our people. Delivering on the Group People Strategy is a key value driver for the financial performance of the Swiss Re Group Strategy.

Our strategic ambitions are built on three pillars and one desired outcome:

• Lead: We are accountable for our own performance and development and help others to be the best they can. We create excitement for the future and connect on a personal and emotional level.
• Build: We understand, develop, and build the capabilities to win in the future. We embrace continuous learning and growth to make each one of us more resilient. We have a strong employer brand and can attract and retain the talent we need.
• Perform: We all take responsibility and hold each other accountable for our financial performance, behaviour and integrity. We invest and spend money with an “owner” mindset. We challenge complexity and work in adaptable and cross-functional networks of teams that allow decision-making across all levels.

One Swiss Re

Our desired outcome:

We work together with our clients’ best interests at heart. We create an inclusive environment where people feel respected for who they are. We have a growth mind-set, put client needs at the heart of our decisions, embrace digital opportunities, and focus on sustainable, commercial, and financial outcomes. We aim to bring our entire organisation closer together as One Swiss Re and to leverage strengths across the Group to be a strong partner for our clients.

1. Figure includes regular and temporary employees.

Navigating another year of the pandemic

In 2021, our pulse survey – a short employee survey to check the “pulse” of our employees during the pandemic – showed that COVID-19 has continued to place immense pressure on our employees, in particular in terms of their workload. The ongoing effects of the crisis have also, in many cases, tested our personal resilience. With 83% of employees reporting a positive assessment of how Swiss Re is safe-guarding the well-being of its employees (2020: 79%), we are pleased our efforts to help our employees stay safe and healthy are valued by our people. We believe that strong leadership response was key in supporting these efforts.

In January 2021, we held a special “Swiss ReSilience Day” in recognition of the challenges that our employees have faced due to their increased workload. All employees¹ were given the day off in addition to their annual leave and received a one-time award of approximately USD 200 towards an activity or an item of their choice to help them relax and recuperate.

1. With the exception of elipsLife and Confianza employees.

Adapting to a new normal

We do not believe that we will return to how things were before the pandemic, meaning we must embrace a “new normal”. To define the future of work at Swiss Re, we are seeking to strike a balance between employee needs, our desired corporate culture, the need for in-person collaboration and innovation, engagement, our ability to attract talent, productivity and performance. We see the future as a hybrid model between the workplace and the home and want to remain at the forefront of those changes, as demonstrated by our updated Own The Way You Work™ principles. You can find out more about these principles in the section “We lead”.

Employee health

When monitoring our sick leave data in 2020, we found that fewer sick days were being recorded by employees compared to previous years (see graph below). In 2021, we recorded a slight increase in the number of sick days compared to 2020, but below those of 2019 (considered a “normal” year). We are committed to boosting our employees’ personal resilience and are therefore investing in additional activities to support employees and our company. These include our mental health initiatives, which are discussed in more detail in the section “Focus: personal resilience”.

Absences due to sick leave (% of employees)

The percentage of employees who were sick increased in 2021 due to the COVID-19 pandemic